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Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched! - page 324. (Read 1467253 times)

hero member
Activity: 842
Merit: 507
sorry again but how can I install it? There are no .exe files  Huh

There is still no official Windows distribution of the latest version of Litecoin, but one will be released soon.
sr. member
Activity: 389
Merit: 250
sorry again but how can I install it? There are no .exe files  Huh
sr. member
Activity: 389
Merit: 250
I was able to encrypt my wallet using the latest git version.

sorry but how can I download it? If i click "Downloads" there are files for MAC or for the miners

edit: sorry I made it
hero member
Activity: 938
Merit: 1000
I was able to encrypt my wallet using the latest git version.
sr. member
Activity: 389
Merit: 250
sorry but. . . is possible to encrypt the wallet? The option is disabled yet.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

Yes you have the right idea. Some mine for the novelty of mining despite the loss.

Early bitcoin miners mined at a loss too. It was for the novelty and look at them now with their stashes of BTC  Grin
Early bitcoin miners who were mining at a loss also could have had even larger stashes of BTC if they had bought instead of mined.

I can understand it from the novelty or hobby perspective, but from any other perspective, especially financial, it just doesn't make sense.

I remember you posting this back in early 2011 when I first found out about bitcoin.  I had bought a mining rig in April because I wanted to hedge against the price falling with the possibility of selling off the hardware I bought.  But then, as you correctly pointed out, I was still speculating that he price would rise, and thus it'd be better to just buy the coins directly since I'd get a lot more of them.  It wasn't long after that that I wired a few thousand to MtGox, and that was probably the luckiest financial move I've ever made in terms of ROI.

I think there is more then the novelty here, mining really gets you involved in the community. If I weren't mining LTC I wouldn't be stalking the Chatroom at BTC-E or bitcointalk. I could have bought at Mt.Gox and been happy living my normal life.

But tweaking ones miner, sharing ideas, testing things, really brings you into direct-ish contact with other people who are like minded, and that's healthy for everyone in the community.

I suspect that long run, much like the original "gold rush" the real long term profit will be made elsewhere with companies and services that service the business. (Butterfly labs must be doing nicely for example). And in time when I learn how to code well and contribute in other ways, I will do so- in the meantime- the couple hundred coins per day are a nice sense of "Ownership".

Besides, when I tell more and more people about Crypto, it helps to show them that I'm "making them". It comes across as a much more serious 'hobby' then just speculation. :-)

hero member
Activity: 938
Merit: 1000
I will be building in Litecoin support next week since the new version is coming nearer. Any merchants wanting to join me?
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
The new code will have all the recent Bitcoin fixes.
The code doesn't seem to have changed the switch on times for BIP 16 and BIP 30 in main.cpp. This can cause issues depending on whether the new client or the old client has majority computing power and whether it hits this code. You might want to change the dates to a future time such that it turns on when it's likely more people are running the new code. You can convert the date formats at a site like http://www.convert-unix-time.com. Or have you turned off the relevant code somewhere else? If so, disregard :-)

Thanks. I will change those times to a future date.
legendary
Activity: 2198
Merit: 1311
Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

Yes you have the right idea. Some mine for the novelty of mining despite the loss.

Early bitcoin miners mined at a loss too. It was for the novelty and look at them now with their stashes of BTC  Grin
Early bitcoin miners who were mining at a loss also could have had even larger stashes of BTC if they had bought instead of mined.

I can understand it from the novelty or hobby perspective, but from any other perspective, especially financial, it just doesn't make sense.

I remember you posting this back in early 2011 when I first found out about bitcoin.  I had bought a mining rig in April because I wanted to hedge against the price falling with the possibility of selling off the hardware I bought.  But then, as you correctly pointed out, I was still speculating that he price would rise, and thus it'd be better to just buy the coins directly since I'd get a lot more of them.  It wasn't long after that that I wired a few thousand to MtGox, and that was probably the luckiest financial move I've ever made in terms of ROI.
legendary
Activity: 1078
Merit: 1005
The new code will have all the recent Bitcoin fixes.
The code doesn't seem to have changed the switch on times for BIP 16 and BIP 30 in main.cpp. This can cause issues depending on whether the new client or the old client has majority computing power and whether it hits this code. You might want to change the dates to a future time such that it turns on when it's likely more people are running the new code. You can convert the date formats at a site like http://www.convert-unix-time.com. Or have you turned off the relevant code somewhere else? If so, disregard :-)
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.


Excellent! Good work guys!
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.

sr. member
Activity: 389
Merit: 250
But is possible to encrypt the wallet? The option is disabled yet.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

You are correct if your purchases of coins aren't large enough to change the price of LTC significantly. Otherwise, all the money you might have spent on mining might be large enough to dramatically alter the price of LTC and thus- quickly make it more expensive. So at the end it would be really tricky to calculate exactly how much better off you end up.
full member
Activity: 162
Merit: 100
Does exist any binary (.deb?) version yet? I'm apparently to retarded to compile it myself.  Cool
legendary
Activity: 4592
Merit: 1851
Linux since 1997 RedHat 4
Meh - mining at a sizeable % loss is silly.

At the moment you can mine (on linux) on a single ATI 6950 for only a little below what you'd get BTC mining.

(yes I tried this last week and ran it for 12 hours and got 3 LTC blocks as was expected with ~400KH/s)

As for "chug along initially at low difficulty by not encouraging competition, the better?"
I'm not exactly sure what you are thinking there, but ... sounds to me like
"making LTC more popular is bad coz more people will use it ..." yeah OK forget that idea Smiley
legendary
Activity: 2940
Merit: 1090
... and ... as I've mentioned in here before ... if you spent those $9 on buying LTC you would also be helping increase the price of LTC ...

Driving up the price in early days might not have always seemed a good idea though. As long as people thought coins were worthless, there was less mining competition. If people saw the coins actually being bought in quantity instead of merely mined in quantity, they might have realised duh these things might actually be worth something. So maybe at least early on it might be more in miners interest not to buy simple because buying might cause more people to get into mining.

Kind of seems like the longer you can chug along initially at low difficulty by not encouraging competition, the better?

I know for example that the people who have thrown some CPU power at GRouPcoin mining from time to time are quite happy that it has continued so long to slip under the radar, keeping its difficulty so low even CPUs can mine it effectively.

-MarkM-
sr. member
Activity: 325
Merit: 250
Our highest capital is the Confidence we build.
Mining isn't just about immediate profit. It's also a contribution to the wellbeing of the network, and to the security of it's transactions. Everyone concerned about the future of his investments should be mining as well as buying.
legendary
Activity: 4592
Merit: 1851
Linux since 1997 RedHat 4
... and ... as I've mentioned in here before ... if you spent those $9 on buying LTC you would also be helping increase the price of LTC ...
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

Yes you have the right idea. Some mine for the novelty of mining despite the loss.

Early bitcoin miners mined at a loss too. It was for the novelty and look at them now with their stashes of BTC  Grin
Early bitcoin miners who were mining at a loss also could have had even larger stashes of BTC if they had bought instead of mined.

I can understand it from the novelty or hobby perspective, but from any other perspective, especially financial, it just doesn't make sense.

And thats where we agree. Your perspective is financial and some others are just hobby/novelty.

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